Compliance

Easing the regulatory burden is the happy by-product of many core system upgrades.

The insurer expanded this year to more than $900 billion in assets, passing Goldman Sachs Group Inc. to become the fifth- largest company in the Standard & Poor’s 500 Index on that basis.

Efforts to reauthorize the Terrorism Risk Insurance Act for six years fell apart after Senator Tom Coburn, an Oklahoma Republican who is retiring, held up the legislation.

Insurers are learning that compliance doesn’t always have to be about red tape and adding cumbersome new procedures.

The Coalition to Insure Against Terrorism warns that if the insurance-industry protection program isn't re-upped, places and events that look enticing to terrorists won't be able to get the insurance they need.

Insurers create special-purpose entities in states with less-restrictive rules and shift customer policies into those units.

House unanimously passed the bill; insurers had lobbied for the change to the 2010 Dodd-Frank financial-regulation overhaul.

Senate approval would move the measure to President Barack Obama for final approval.

Majority Leader Harry Reid, a Nevada Democrat, told reporters today he didn’t expect the insurance plan extension to be part of a must- pass federal spending measure being negotiated this week.

The group of federal magistrate judges in Brooklyn and Central Islip rejected arguments by insurers that disclosure was unfair or burdensome.

MetLife Chief Executive Officer Steven Kandarian has lobbied to avoid the extra oversight and called regulatory uncertainty the primary challenge to meeting profit targets.

INN celebrated its Women in Insurance Leadership award winners at a celebration in Chicago on October 20 and 21.

The cross-industry alliance will provide a platform for insurers, financial services companies and others to share resources, information and intelligence to fight fraud.

Integration of four subsidiaries helps company de-risk its variable annuity business.

To keep subsidies intact, Delaware officials are contemplating a technical work-around, while Illinois’ outgoing governor is seeking to push through a legislative fix in the final months of his term.

Paulson reportedly ended his investment by Sept. 30; Genworth has declined 40 percent since reporting a third-quarter loss of $844 million on November 5.

AIG’s largest shareholder before the bailout, claims shareholders were cheated in the deal by the 14 percent interest paid on the loan and a requirement to surrender 80 percent of the company’s equity.

The board voted for the loan deal after exhausting private- sector lifeline possibilities that included discussions with Warren Buffett, Jay Fishman of Travelers Cos. and J.C. Flowers & Co., Willumstad said.

IT organizations still years away from essential data management and analytics capabilities.

As the private exchange market continues to expand, further mergers and acquisitions are expected.